The five-year strategy emphasises collaboration with the government and other partners to accelerate private-sector-led economic diversification, advance human development, and bolster climate resilience. It incorporates crosscutting priorities addressing climate change, enhancing governance and institutional capacity, improving gender equality, promoting digitalisation, and deepening regional cooperation and integration, ADB said in a press release.

“Shaped in close collaboration with diverse stakeholders, ADB’s new country strategy is a partnership with Cambodia for its prosperity, its people, and the planet,” stated Scott Morris, ADB vice-president for East and Southeast Asia and the Pacific. “It heralds an exciting new chapter of growth and opportunity in Cambodia’s development journey, one that aims to set the country on the path to high income status in the decades ahead.”

The strategy focuses on prosperity by accelerating economic diversification and recognising the pivotal role of the private sector in driving sustainable growth. Key elements include enhancing high-quality, climate-resilient infrastructure to attract private sector investments, and creating a supportive business environment, particularly for micro, small, and medium-sized enterprises.

Placing people at the core of the development agenda, the strategy seeks to ensure inclusive access to quality and affordable services, including education, skills development, healthcare, and clean water supply and sanitation services. ADB will also intensify its efforts to enhance digital service delivery by subnational administrations and improve food security and nutrition for those most in need, thereby paving the way for increased economic productivity.

Aligned with ADB and the government’s climate commitments, the strategy aims to strengthen climate resilience through targeted climate adaptation initiatives spanning agriculture, water resource ecosystems, and urban infrastructure. It also prioritises the expansion of renewable energy sources and the mobilisation of concessional climate finance, striving for a greener and more resilient future for Cambodia.

Fibre2Fashion News Desk (KD)